Bank of America Corp DE trimmed its stake in Valmont Industries, Inc. (NYSE:VMI – Free Report) by 4.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 273,727 shares of the industrial products company’s stock after selling 11,753 shares during the quarter. Bank of America Corp DE’s holdings in Valmont Industries were worth $109,373,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of VMI. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Valmont Industries by 0.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,303 shares of the industrial products company’s stock worth $927,000 after buying an additional 21 shares during the last quarter. Allen Capital Group LLC grew its holdings in shares of Valmont Industries by 2.2% during the 4th quarter. Allen Capital Group LLC now owns 1,130 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 24 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Valmont Industries by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 7,565 shares of the industrial products company’s stock valued at $2,933,000 after buying an additional 29 shares during the period. Rothschild Investment LLC lifted its position in Valmont Industries by 7.1% in the fourth quarter. Rothschild Investment LLC now owns 453 shares of the industrial products company’s stock valued at $182,000 after buying an additional 30 shares during the last quarter. Finally, Balefire LLC lifted its holdings in shares of Valmont Industries by 5.1% in the 1st quarter. Balefire LLC now owns 701 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.
Insider Buying and Selling
In other news, CFO John L. Schwietz acquired 208 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average cost of $486.14 per share, with a total value of $101,117.12. Following the purchase, the chief financial officer directly owned 2,992 shares of the company’s stock, valued at approximately $1,454,530.88. This trade represents a 7.47% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Theodor Werner Freye sold 800 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the transaction, the director owned 2,805 shares of the company’s stock, valued at approximately $1,388,475. This represents a 22.19% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.42% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on Valmont Industries
Valmont Industries Price Performance
Shares of NYSE:VMI opened at $494.14 on Friday. Valmont Industries, Inc. has a 12 month low of $360.41 and a 12 month high of $585.71. The firm has a market capitalization of $9.54 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.35 and a quick ratio of 1.55. The company’s fifty day moving average price is $532.95 and its 200 day moving average price is $482.32.
Valmont Industries (NYSE:VMI – Get Free Report) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.34. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $4.88 earnings per share. As a group, sell-side analysts predict that Valmont Industries, Inc. will post 23.08 earnings per share for the current fiscal year.
Valmont Industries Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, September 25th. This represents a $3.08 annualized dividend and a yield of 0.6%. Valmont Industries’s payout ratio is presently 11.99%.
About Valmont Industries
Valmont Industries, Inc (NYSE: VMI) is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont’s solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.
The company operates through several core business segments.
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